FAILURE to chase up overdue payments could lead South Australian small businesses on a path to financial ruin, warns Suncorp Bank. Research by Dun & Bradstreet shows the typical 30-day invoice payment period blew out to more than 53 days in the June quarter. This result was worse than that recorded during the height of … Continue reading Chasing cashflow a critical issue for small businesses
From 1st July 2012, businesses in the building and construction industry need to report the total payments they make to each contractor for building and construction services each year. The ATO wants this in the form of a taxable payments annual report. The aim is to improve compliance with tax obligations and to change the … Continue reading Reportable Payments to Contractors
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